Re:Bull Market Hits a Milestone: 3,453 Days – Most Americans...
by Someone1234 on Wednesday August 22, 2018 @02:43PM
(#17820917)
> From what i gather, most millionaires (not super wealthy) had relatively common jobs or business and became wealthy through savings.
Source?
Re:Bull Market Hits a Milestone: 3,453 Days – Most Americans...
by toomuchtodo on Wednesday August 22, 2018 @02:47PM
(#17820940)
I happen to be reading "The Millionaire Next Door" [1], and this has some truth to it (statistical excerpts [2]). Most "working class" Millionaires own a small business and are very frugal, continuing to live below their means after obtaining their wealth. Frugality alone will not help you attain the quoted wealth level, but it is a component (along with a healthy income and/or equity/asset ownership).
With reference to "common jobs", that would be limited to high income professions, such as doctors and attorneys.
[1] https://smile.amazon.com/Millionaire-Next-Door-Surprising-Am...
[2] https://www.washingtonpost.com/wp-srv/style/longterm/books/c...
Re:Bull Market Hits a Milestone: 3,453 Days – Most Americans...
by chrischen on Wednesday August 22, 2018 @04:33PM
(#17821905)
There's also ways to inherit wealth that isn't directly just receiving cash. It can be inheriting your parents' house, car, antiques, or simply inheriting a life that didn't begin in the slums or ghettos.
From what i gather, most millionaires (not super wealthy) had relatively common jobs or business and became wealthy through savings.
Those that inherited their massive wealth aren’t that common.